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Idaho Lease Of Personal Property

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Idaho Lease Of Personal Property Powered By Docstoc
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                             This Lease of Personal Property can be used by individuals for renting or leasing out a
                             piece of personal property, and not real estate. The agreement sets forth the material
                             terms of the lease including provisions regarding payment, indemnification, termination and
                             the term of the lease. It contains numerous standard clauses as well as opportunities for
                             customization to fit the needs of the parties. This document is useful to individuals or
                             businesses located in Idaho seeking to lease personal property.
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                               LEASE OF PERSONAL PROPERTY


This Lease of Personal Property (hereinafter the “Lease”) is made on _____ [Month] _____
[Date], 20_____ [Year] by and between ________________________________ [Instruction:
Insert the name of lessor], residing at _______________________________ [Instruction:
Insert the address of lessor] (hereinafter “Lessor”) and ________________________________
[Instruction: Insert the name of lessee], residing at _______________________________
[Instruction: Insert the address of lessee] (hereinafter “Lessee”). Lessor and Lessee may
individually be referred to as “Party” and collectively as “Parties”.


   WHEREAS Lessor is the sole owner and wishes to Lease the personal property described in
Exhibit A attached hereto and made a part hereof, all of which is hereinafter the “Leased
Property”;


   WHEREAS, Lessee wishes to lease the Leased Property from Lessor on the terms and
conditions contained herein.


   NOW THEREFORE the Parties agree upon the following terms and conditions:


1. Term.
   The term of this Lease shall commence on _____ [Month] _____ [Date], 20_____ [Year]
   and end on _____ [Month] _____ [Date], 20_____ [Year] [Instruction: Insert the period
   for which this Lease is to be enforced i.e. commencement and ending date]. Lessee shall
   have the right, subject to the consent of the Lessor, to extend the term of this Lease for the
   period of ________ (___) [Instruction: Insert the period of time e.g., eleven (11)] months
   after the expiration of the above term by giving written notice thereof to Lessor at least
   ________ (___) [Instruction: Insert the period of time e.g., Ten (10)] days before the end
   of the above term on the same provisions as set forth herein.
2. Lease Payments.
    In consideration for the leasing of the above described Leased Property, Lessee agrees to pay
    to Lessor for use of such Leased Property a sum of ________ ($___) [Instruction: Insert the
    amount of rent e.g., fifty dollars only ($ 50)] per month, the first payment of which is
    payable on or before the first (1) day of each month and thereafter, during the entire term of
    the Lease pursuant to Section 5, Chapter 20, Title 55 of 2011 Idaho Code. Such payme
				
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Description: This Lease of Personal Property can be used by individuals for renting or leasing out a piece of personal property, and not real estate. The agreement sets forth the material terms of the lease including provisions regarding payment, indemnification, termination and the term of the lease. It contains numerous standard clauses as well as opportunities for customization to fit the needs of the parties. This document is useful to individuals or businesses located in Idaho seeking to lease personal property.
This document is also part of a package Essential Idaho Legal Documents 145 Documents Included